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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, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
Friday, 12 July 13
U.S. PRODUCED 18.40 MMST COAL WEEK ENDED 6 JULY 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.40 million short tons (mmst) of ...
Thursday, 11 July 13
PANAMAX: PACIFIC ROUND PAY AROUND $6,500/D; ATLANTIC ROUND VOYAGE PAY AROUND US$ 10,000/D - FEARNLEYS AS
Handy
The Feast market is quiet, July date cargoes remain unfixed as there is a gap between what owners aiming and charterers willing to pay. There ...
Wednesday, 10 July 13
DRY BULK MARKET IS STILL STRUGGLING TO SURVIVE - INTERMODAL
COALspot.com : With the first half of the year now behind us and, as expected, most shipping segments in the dry bulk market are struggling to survi ...
Tuesday, 09 July 13
COAL PRICE REMAINS SLUGGISH - TRIMEGAH
COALspot.com - Newcastle coal price has reached US$ 76.30/ton (-15.9% YTD), bringing YTD’13 average to stand at US$ 87.90/ton, 6.80% lower tha ...
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- India Bulls Power Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bhatia International Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Australian Coal Association
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
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