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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- MS Steel International - UAE
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