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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
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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
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Wednesday, 27 November 19
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- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
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