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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- MS Steel International - UAE
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
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