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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, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
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Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
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- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
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