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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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Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
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