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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
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- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
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- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
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- Maharashtra Electricity Regulatory Commission - India
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- Bhatia International Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
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- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
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- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
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- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
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