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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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Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
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Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
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Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
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