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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
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