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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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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
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