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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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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
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- Jorong Barutama Greston.PT - Indonesia
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- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
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- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
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- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
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- MS Steel International - UAE
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- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
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