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