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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
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SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
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Saturday, 28 December 19
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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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- White Energy Company Limited
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- The University of Queensland
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
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