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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, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
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- Ministry of Transport, Egypt
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- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
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- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
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