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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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Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- The University of Queensland
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
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