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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, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Trasteel International SA, Italy
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
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