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