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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, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
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Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
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