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