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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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Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
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- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
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