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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Georgia Ports Authority, United States
- Minerals Council of Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
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