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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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Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
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- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
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