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