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