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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, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
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