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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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Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- ASAPP Information Group - India
- SMG Consultants - Indonesia
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