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