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