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