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