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