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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, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
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 ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
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- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
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- Meralco Power Generation, Philippines
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- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
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- Parry Sugars Refinery, India
- MS Steel International - UAE
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- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
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- Orica Australia Pty. Ltd.
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- White Energy Company Limited
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- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
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- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
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- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
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- Tamil Nadu electricity Board
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- Electricity Authority, New Zealand
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- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
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- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
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- Indika Energy - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
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- South Luzon Thermal Energy Corporation
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- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Planning Commission, India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
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