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