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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
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Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
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- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
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