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