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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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Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
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- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
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- PTC India Limited - India
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- Sical Logistics Limited - India
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- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
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- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
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- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
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- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- The University of Queensland
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- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
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- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
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- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
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- Borneo Indobara - Indonesia
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- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
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- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
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