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