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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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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Planning Commission, India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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