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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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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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