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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, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
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