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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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Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
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