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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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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
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