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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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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
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