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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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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
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