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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
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- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- The University of Queensland
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
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- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
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