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