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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, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
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Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
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Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Carbofer General Trading SA - India
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- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
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- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
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- Mintek Dendrill Indonesia
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- The Treasury - Australian Government
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- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
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- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
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- Tamil Nadu electricity Board
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- Directorate General of MIneral and Coal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
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- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
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- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
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- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
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- Bharathi Cement Corporation - India
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- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
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- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
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- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
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- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
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- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
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- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
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- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
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- Mercuria Energy - Indonesia
- The University of Queensland
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