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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
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