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