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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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Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
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