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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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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Mercator Lines Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
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