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