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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, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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