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