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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
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Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
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The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
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Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
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Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
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