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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
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