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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
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