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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
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Tuesday, 25 November 14
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Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Sarangani Energy Corporation, Philippines
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- Standard Chartered Bank - UAE
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- Tamil Nadu electricity Board
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- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
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- Siam City Cement PLC, Thailand
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- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
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- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
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- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
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- The Treasury - Australian Government
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Romanian Commodities Exchange
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- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- White Energy Company Limited
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- The University of Queensland
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
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- Planning Commission, India
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