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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- London Commodity Brokers - England
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
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