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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, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Australian Coal Association
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
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