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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- McConnell Dowell - Australia
- Australian Coal Association
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
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