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