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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, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
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- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Ministry of Mines - Canada
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- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
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