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