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