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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Australian Coal Association
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Marubeni Corporation - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
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