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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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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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