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