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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, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
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