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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
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