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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- Bahari Cakrawala Sebuku - Indonesia
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- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Global Coal Blending Company Limited - Australia
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- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
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- Banpu Public Company Limited - Thailand
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- Jindal Steel & Power Ltd - India
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- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
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- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
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- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
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- Parliament of New Zealand
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- Kepco SPC Power Corporation, Philippines
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