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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
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Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Kobexindo Tractors - Indoneisa
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