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