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