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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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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
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Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
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Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
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