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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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INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
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Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
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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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- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
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- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
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- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
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- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
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- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
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- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
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- PTC India Limited - India
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- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
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- Metalloyd Limited - United Kingdom
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- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
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- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Trasteel International SA, Italy
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- Romanian Commodities Exchange
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
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- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
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- Aditya Birla Group - India
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- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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