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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- MS Steel International - UAE
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