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