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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, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
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