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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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Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
Wednesday, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
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- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- The University of Queensland
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
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