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