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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
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
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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- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
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