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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, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
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