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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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Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
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- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
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