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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, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
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- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Australian Coal Association
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
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