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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
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