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