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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, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
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Tuesday, 31 March 20
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Monday, 30 March 20
PANAMAX: INDONESIA LACKED VOLUME, PARTLY DUE TO FORCE MAJEURE IN INDIAN PORTS - BALTIC BRIEFING
Capesize
As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working. Most regions o ...
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- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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