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