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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- ASAPP Information Group - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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