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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
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
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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- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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