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