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