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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
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