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