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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
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- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
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- Posco Energy - South Korea
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- Maharashtra Electricity Regulatory Commission - India
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- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
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- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
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- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
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- Ministry of Transport, Egypt
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- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
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- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
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- Aditya Birla Group - India
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- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
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- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
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- Indonesian Coal Mining Association
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