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