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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
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Wednesday, 05 June 19
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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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- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- The University of Queensland
- VISA Power Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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