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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
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