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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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Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K 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 ...
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- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
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