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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
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