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