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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
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Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
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Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Australian Coal Association
- PTC India Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
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