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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
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Saturday, 06 June 20
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Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
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Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
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