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