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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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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
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