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