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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, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Australian Coal Association
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
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