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