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