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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
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