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