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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, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
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