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