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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, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
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- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
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