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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
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