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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
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