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