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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, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- Siam City Cement - Thailand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- White Energy Company Limited
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
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