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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, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- The University of Queensland
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
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