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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
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- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Romanian Commodities Exchange
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- Sojitz Corporation - Japan
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- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
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- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
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- Gujarat Sidhee Cement - India
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- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
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- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
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- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
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- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
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- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
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