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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, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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