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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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Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
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Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
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Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
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