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