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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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- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
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