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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- The University of Queensland
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
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