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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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