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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, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
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