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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
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