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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, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
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TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
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Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
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Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
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- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
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