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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, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
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