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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
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