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