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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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Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- The University of Queensland
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
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