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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, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
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