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