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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, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
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