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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, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
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 ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- The University of Queensland
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
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