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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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Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Chamber of Mines of South Africa
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