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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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Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
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- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- The Treasury - Australian Government
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- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Bulk Trading Sa - Switzerland
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- Price Waterhouse Coopers - Russia
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- Vizag Seaport Private Limited - India
- Minerals Council of Australia
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- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Deloitte Consulting - India
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- European Bulk Services B.V. - Netherlands
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- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
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- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Romanian Commodities Exchange
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- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- The University of Queensland
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
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