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