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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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