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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- The University of Queensland
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
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