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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
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