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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Australian Coal Association
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
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