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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
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Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
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Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
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Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
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- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
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