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