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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Planning Commission, India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
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