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