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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, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
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- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
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