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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, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
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