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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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Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
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SHIPPING MARKET INSIGHT
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SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
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A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- The University of Queensland
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
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