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