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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Economic Council, Georgia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
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