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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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Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
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Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
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