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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
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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
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- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
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