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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
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