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