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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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Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
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Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
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