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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
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