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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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Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
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- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
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- Ministry of Mines - Canada
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- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Australian Coal Association
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
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