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