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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, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
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