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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
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