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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
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