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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
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Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- London Commodity Brokers - England
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
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