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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, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
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- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
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