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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, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- The University of Queensland
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
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