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