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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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- Indika Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Economic Council, Georgia
- White Energy Company Limited
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
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