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