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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
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