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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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Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
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