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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- MS Steel International - UAE
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
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