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