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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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Wednesday, 18 March 20
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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
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Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
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Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
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- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
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