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