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