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