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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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Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
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Tuesday, 31 March 20
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Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
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- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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