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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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