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