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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
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