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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, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
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