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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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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
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Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
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Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
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