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