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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Riau Bara Harum - Indonesia
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