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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
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Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
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Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
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Saturday, 07 June 14
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FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
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- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- The University of Queensland
- White Energy Company Limited
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
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