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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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- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
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