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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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Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
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- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
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- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
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- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
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- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Australian Coal Association
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- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
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- Economic Council, Georgia
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- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
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- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
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- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
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- Commonwealth Bank - Australia
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- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
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- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
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- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
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