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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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Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Planning Commission, India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
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