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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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Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
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