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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, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
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