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