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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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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- White Energy Company Limited
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
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