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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
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 ...
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- Thai Mozambique Logistica
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
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