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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
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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 ...
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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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- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
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