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