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