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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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Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Bhatia International Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- White Energy Company Limited
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
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