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