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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, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Planning Commission, India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
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