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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
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