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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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