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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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Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
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- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
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