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