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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, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
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