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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, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
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- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
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