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