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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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- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
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