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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
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Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
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Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
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Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
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- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
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