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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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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
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Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
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Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
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- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
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