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