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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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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
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Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Parliament of New Zealand
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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