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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, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
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The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Gujarat Sidhee Cement - India
- The University of Queensland
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
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