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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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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
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