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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- The University of Queensland
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
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