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