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