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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
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- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
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