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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, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
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Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
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