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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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Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
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- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
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