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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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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
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