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