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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, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
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