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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
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