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