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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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Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
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