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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, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- VISA Power Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
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