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