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