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