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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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- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Economic Council, Georgia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
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