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