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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
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