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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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Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
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