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