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