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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- The University of Queensland
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
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