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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, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
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