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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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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- White Energy Company Limited
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Australian Coal Association
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Minerals Council of Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
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