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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
Friday, 25 December 15
WEEKLY US COAL PRODUCTION ESTIMATES DIP 8.5%
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 14.7 million shor ...
Thursday, 24 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SHED US$ 0.60 PER TON OVER WEEK, AND STANDS AT US$ 43.25 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 ...
Thursday, 24 December 15
GLOBAL MARINE FUEL REGULATIONS COULD SHOCK REFINING AND OIL MARKETS - OPEC | HELLENIC SHIPPING NEWS
IMO regulations call for global standards for sulphur content in marine fuel to be tightened to 0.5% from its present 3.5%. There is uncertainty ov ...
Thursday, 24 December 15
DRY BULKERS' VALUES ARE PLUNGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk carriers’ values are falling across the board, as the fall of freight rates is taking its toll, as is to be expected. In fact, accor ...
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- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
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