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