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