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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
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- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
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