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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
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