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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
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