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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
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Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
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Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
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Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
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