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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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Monday, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Australian Coal Association
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
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