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