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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
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