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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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Saturday, 15 June 19
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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- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
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