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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, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
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