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