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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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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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- Parliament of New Zealand
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
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