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