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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Minerals Council of Australia
- The Treasury - Australian Government
- MS Steel International - UAE
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
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