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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
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The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
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Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
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Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- The University of Queensland
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
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