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