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