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