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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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- The University of Queensland
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
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