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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, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
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