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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
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Thursday, 28 July 16
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RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
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GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
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Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Australian Coal Association
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
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