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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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Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Planning Commission, India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
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