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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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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
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