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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, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
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