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