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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
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
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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- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
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