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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, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
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