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