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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
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