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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, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
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Tuesday, 31 March 20
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Monday, 30 March 20
CORONAVIRUS - IMPLICATIONS FOR SHIPS AND CREW - GARD
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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
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