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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
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