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