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