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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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- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
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