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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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Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
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Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
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- Mercator Lines Limited - India
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- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
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- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
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- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
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- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Australian Coal Association
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
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