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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
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