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