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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, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
Wednesday, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
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- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- PTC India Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- MS Steel International - UAE
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