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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, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- London Commodity Brokers - England
- Australian Coal Association
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
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