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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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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
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