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