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