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