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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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- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
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