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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- The University of Queensland
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bhatia International Limited - India
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