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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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Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- The University of Queensland
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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