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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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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
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