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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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