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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Parliament of New Zealand
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
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