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