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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
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