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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, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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