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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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Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
Wednesday, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
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- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
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