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