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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
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