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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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- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Minerals Council of Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
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