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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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
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