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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
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