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