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