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