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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
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Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
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Saturday, 28 December 19
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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
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