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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
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Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
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There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- White Energy Company Limited
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
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