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