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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
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