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