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