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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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Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
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- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
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