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