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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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Tuesday, 15 October 19
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INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
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Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
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