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