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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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Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- The University of Queensland
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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