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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, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
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SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
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Capesize
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KNOWLEDGE TO ELEVATE
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Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
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- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
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- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
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- Jorong Barutama Greston.PT - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
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