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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- MS Steel International - UAE
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- PTC India Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
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