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