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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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Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
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