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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
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