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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, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
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- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
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