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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Australian Coal Association
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
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