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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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Sunday, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
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- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
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