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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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Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
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- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
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