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