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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
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CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
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Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
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Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PTC India Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
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