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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
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