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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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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Planning Commission, India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
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