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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
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Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
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Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
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Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Planning Commission, India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Parliament of New Zealand
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- The University of Queensland
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
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