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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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Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
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- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
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