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