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