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