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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Indika Energy - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- The University of Queensland
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
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