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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
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Saturday, 06 June 20
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Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
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Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
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