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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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- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Parliament of New Zealand
- Australian Coal Association
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
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