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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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- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
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