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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
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