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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
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