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