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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
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