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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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Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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