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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, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
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