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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, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Australian Coal Association
- Planning Commission, India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
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