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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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Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
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Tuesday, 24 September 19
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Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- White Energy Company Limited
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- The University of Queensland
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
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