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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
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