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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, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
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Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
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- Energy Development Corp, Philippines
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- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
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- Grasim Industreis Ltd - India
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- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
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- The Treasury - Australian Government
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- Bharathi Cement Corporation - India
- The University of Queensland
- Planning Commission, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
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