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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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Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Sical Logistics Limited - India
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