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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- The University of Queensland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
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- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
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- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
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