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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, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
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Tuesday, 31 March 20
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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
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- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
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