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