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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, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The University of Queensland
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
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