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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, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
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