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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
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