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