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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
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Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
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THE COAL-D SHOULDER? - BALTIC EXCHANGE
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SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
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Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Energy Exchange, India
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- White Energy Company Limited
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- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
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- Toyota Tsusho Corporation, Japan
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- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
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- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
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- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
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- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Jaiprakash Power Ventures ltd
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- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
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- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
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- Latin American Coal - Colombia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
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- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
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