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