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