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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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Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- London Commodity Brokers - England
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
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