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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Latin American Coal - Colombia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
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