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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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Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- The Treasury - Australian Government
- The University of Queensland
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Australian Coal Association
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
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