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