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