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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
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