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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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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
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Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- The University of Queensland
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
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