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