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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
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- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
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- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
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- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
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- Essar Steel Hazira Ltd - India
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- Trasteel International SA, Italy
- Latin American Coal - Colombia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
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