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