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