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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
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- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
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- Price Waterhouse Coopers - Russia
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- CNBM International Corporation - China
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- Coal and Oil Company - UAE
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- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
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- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
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- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
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- MS Steel International - UAE
- Bangladesh Power Developement Board
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- Planning Commission, India
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- Straits Asia Resources Limited - Singapore
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- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
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- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Tamil Nadu electricity Board
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- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Central Electricity Authority - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- White Energy Company Limited
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- Renaissance Capital - South Africa
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- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
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- Bhushan Steel Limited - India
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- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
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- Georgia Ports Authority, United States
- Wilmar Investment Holdings
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- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
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- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
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