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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
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CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
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Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
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Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
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