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