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