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