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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, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
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