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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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Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Planning Commission, India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Australian Coal Association
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
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