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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
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