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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, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
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- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
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