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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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Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
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