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