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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, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Global Business Power Corporation, Philippines
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- The University of Queensland
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
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