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