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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, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
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