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