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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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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
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