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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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
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