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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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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
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