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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
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Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
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Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
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