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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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