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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 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Deloitte Consulting - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
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