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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- PTC India Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
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