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