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