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