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