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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, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- The University of Queensland
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
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