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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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
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