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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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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- VISA Power Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
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