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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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
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