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