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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- The University of Queensland
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
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