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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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Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
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Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
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Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
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- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
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- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
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- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
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- Thiess Contractors Indonesia
- The University of Queensland
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- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
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