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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, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
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The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
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The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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