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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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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Marubeni Corporation - India
- MS Steel International - UAE
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
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