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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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Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
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Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
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Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
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Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
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