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