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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Economic Council, Georgia
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