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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
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- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
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- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
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- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
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