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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Parliament of New Zealand
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
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