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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
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