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