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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 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Parliament of New Zealand
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- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
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