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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, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
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Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
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Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
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Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
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- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Planning Commission, India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Deloitte Consulting - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
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