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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, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
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Monday, 29 October 18
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Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
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Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
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Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
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- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- The University of Queensland
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
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