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