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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
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