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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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- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
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- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
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- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
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- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
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- Indonesian Coal Mining Association
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- Metalloyd Limited - United Kingdom
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- India Bulls Power Limited - India
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- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Ministry of Finance - Indonesia
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- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
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- The Treasury - Australian Government
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- White Energy Company Limited
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- Goldman Sachs - Singapore
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- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
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- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
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- Tamil Nadu electricity Board
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- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
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- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
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- Cement Manufacturers Association - India
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- Coal and Oil Company - UAE
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- IEA Clean Coal Centre - UK
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- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
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