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