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