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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, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
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