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