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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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Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- ASAPP Information Group - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
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