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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Australian Coal Association
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
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