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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
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Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
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- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
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