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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, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
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