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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
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