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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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Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
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- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
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