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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, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
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