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