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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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Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
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