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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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Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
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Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
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- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- White Energy Company Limited
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
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