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