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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, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
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Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
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Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
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Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PTC India Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
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- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Parliament of New Zealand
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Carbofer General Trading SA - India
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