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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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- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
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- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
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