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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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Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
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Monday, 21 October 19
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Monday, 21 October 19
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Capesize
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Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
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Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
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- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
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