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