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