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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
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Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Australian Coal Association
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
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