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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, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
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Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
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Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- ICICI Bank Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Parliament of New Zealand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- PTC India Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
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