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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- PTC India Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
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