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