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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, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
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- Savvy Resources Ltd - HongKong
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- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- The University of Queensland
- SMC Global Power, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
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