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