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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- MS Steel International - UAE
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
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