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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
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