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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- The University of Queensland
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
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