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