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