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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 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
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Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
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Monday, 23 May 16
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COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Planning Commission, India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- The University of Queensland
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
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