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