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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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Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
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Monday, 25 January 16
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Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
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- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
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