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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Planning Commission, India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
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