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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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- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
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