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