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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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- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
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- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Petrochimia International Co. Ltd.- Taiwan
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- Intertek Mineral Services - Indonesia
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- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
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- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
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- Parliament of New Zealand
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- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
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- Energy Development Corp, Philippines
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- Australian Commodity Traders Exchange
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- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
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- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
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- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Agrawal Coal Company - India
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