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