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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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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- The University of Queensland
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Planning Commission, India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
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