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