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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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Tuesday, 24 July 18
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
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
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- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- VISA Power Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Romanian Commodities Exchange
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
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