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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
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