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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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Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
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Monday, 21 October 19
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Monday, 21 October 19
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Capesize
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Friday, 18 October 19
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Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
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- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
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