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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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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
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