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