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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
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