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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, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
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