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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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Friday, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Planning Commission, India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
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