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