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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- The University of Queensland
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
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