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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
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