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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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- The University of Queensland
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
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