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