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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- Borneo Indobara - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
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- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
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- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
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