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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, 15 July 20
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Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
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- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
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