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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
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Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
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Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
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Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
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- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
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