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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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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Planning Commission, India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
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