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