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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
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- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
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