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