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