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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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- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
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