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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, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
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