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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
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The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Antam Resourcindo - Indonesia
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- SMG Consultants - Indonesia
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- Agrawal Coal Company - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
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- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
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- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
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- Bayan Resources Tbk. - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
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- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
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- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
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