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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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Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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