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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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Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- PTC India Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Dalmia Cement Bharat India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
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