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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 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
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- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
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- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
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