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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
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- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
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- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
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