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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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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
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