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