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