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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Planning Commission, India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
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