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