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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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Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
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Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
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