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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- VISA Power Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
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