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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
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Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
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Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Australian Coal Association
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Marubeni Corporation - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
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