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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, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
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