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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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Saturday, 28 December 19
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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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Planning Commission, India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
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