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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- White Energy Company Limited
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- The University of Queensland
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
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