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