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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
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- Medco Energi Mining Internasional
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
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- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Planning Commission, India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
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