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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Australian Coal Association
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Planning Commission, India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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