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