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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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Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
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- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
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