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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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Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
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- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
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