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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, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
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