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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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Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
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- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- White Energy Company Limited
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
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