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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 14 December 15
CFR SOUTH CHINA COAL SWAP IS STILL SLIDING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 0.93(2.18%) per ton month over month.
A commodity swap ...
Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
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Sunday, 13 December 15
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Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
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- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Australian Coal Association
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
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