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