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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, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- PTC India Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Mercator Lines Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
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