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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, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
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- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- PTC India Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
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