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