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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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Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
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Capesize
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Friday, 14 June 19
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KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
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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- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Planning Commission, India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
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