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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
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